India GAAR guidelines “too simplistic”

Foreign investors and managers of Indian assets worry that draft guidelines governing controversial anti-tax evasion rules are too simplistic and could be used indiscriminately by tax officers. But for the first time since the proposal on general anti-avoidance rules (GAAR) was announced in March, say tax experts, the government has given more clarity on how investors buying Indian securities through an entity incorporated in Singapore could be affected by the new rules. Yet som…